Producers produce more value in the marketplace than they consume.
Consumers consume more value than they produce.
Producers are focused on value creation in the marketplace.
So the question is,
Does self-insuring help producers create more value in the marketplace?
The “Rugged Individualist” (or the Jake of all trades) would ask you to consider insuring yourself rather than “consume” the cashflow.
By default, a Rugged Individualist’s big picture is no bigger than the sum of all the micro efforts they consume trying to control everything.
Growth happens but at an alarmingly slow rate. All too often happiness eludes them for the sake of worry and the consumption of effort.
On the other hand, is the producer who realizes that satisfaction and limitless controls come from focusing on what they are uniquely good at and hiring away anything that distracts from their most powerful and efficient tasks.
This raises a deeper question…
Will consuming “effort” to save cash build wealth faster than consuming cash to ensure effort is efficient and productive?
In other words, would white knuckle driving on bald tires in the middle of the hot summer with your entire family in the car be healthier and more productive for you than the security and peace of having good tires?
Of course not, you would be in much better mental and emotional shape driving in confidence.
It is, therefore, not surprising that the wealthiest and most productive business owners in the market today, are also the individuals who buy the most insurance.
Think about it.
If this were not true, then every business owner and millionaire out there today would be self-insured.
But they are not, in fact, they buy as much insurance as they can.
Much more than a consumer ever could.
Ask yourself this,
- If there was no cost to having insurance, how much would you want?
- More importantly, why would you want that amount?
- What would that do for you?
- Increase your production,
- Produce more,
- Make more money,
- Save more money,
- Create more in the marketplace.
Then buy more insurance.
But don’t just buy it, leverage it within the mindset of being a producer.
Leverage it in your #1 Asset, #1 Investment, and #1 Strategy.